Subject: Re: Unite Group (UTG), UK, falling knife.
UTG had a target of 97% occupancy and missed this by a few % in recent reporting and they are acquiring empiric which only has an 84% occupancy. I think the market is reacting to this too, concerns about reality vs management optimism.

It will definitely be tougher going forward but as an investor buying at such a big discount to NAV with low gearing offer discount to IV.

The dividend may also be cut, this isn't an issue for me as I assess property companies on NAV, debt and interest cover... can they weather a storm. UTG can I believe.